24SevenOffice, supplier of an advanced web-based administration system for the SME market, has launched a free financial package that will help AIM-listed smaller organisations to centralise their detailed legders and consolidate their accounts. The package is designed to help meet the impending International Financial Reporting Standards (IFRS) due to come into force on the 1 January 2005.
Smaller organisations with offices in multiple countries, running
applications on everything from laptops to servers, will find it challenging
to meet the IFRS requirements. Businesses will need to find ways to manage
and integrate their data systems so that they can communicate financial
information quickly and effectively to internal and external audiences. SMEs
typically do not have a large capital expenditure (capex) to warrant an
overhaul of their IT systems.
Staale Risa, VP of International Operations, says: "SMEs have the greatest challenge. They need to have more flexible applications so that they can keep up with the pace of change, but they are restricted by budget. The IFRS requirements only add to the pressures that they face. We believe that our utility-style model helps them to achieve the flexibility they need to be reactive to changing IT requirements, without
them having to dip into their valuable capex budget."
16-Dec-2004
